Pension reporting: banks must issue Form-16 or pension statements to pension recipients when they pay pensions directly. When a bank credits pension payments to a recipient, the bank is responsible for issuing the Form-16 or pension statement to the pensioner, rather than ... Summary
Pension reporting: banks must issue Form-16 or pension statements to pension recipients when they pay pensions directly.
When a bank credits pension payments to a recipient, the bank is responsible for issuing the Form-16 or pension statement to the pensioner, rather than the former employer, for income-tax reporting and recordkeeping purposes.
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